Written by Gary
The US stock markets Jumped into the green this morning and after a trip to the unchanged line the markets have trended upwards (SPY +0.5%).
Here is the current market situation from CNN Money | |
North and South American markets are broadly higher today with shares in Brazil leading the region. The Bovespa is up 1.43% while U.S.’s S&P 500 is up 0.27% and Mexico’s IPC is up 0.16%. |
Traders Corner – Health of the Market
Looking at the last three columns (below), the first one (Actual), is what was reported this morning. The second column (Forecast) is what analysts had forecast and the third column is the previous report. Full calendar HERE.
Elon Musk hires interns to ‘problem solve’
Treasury 10-year note yield hits seven-year high
Three takeaways from earnings season
Stocks cautious as North Korea tensions weigh on markets
What Is Moving the Markets
Here are the headlines moving the markets. | |
Rupert Murdoch’s son Lachlan to become Fox CEO after Disney deal(Reuters) – Twenty First Century Fox’s James Murdoch will be succeeded by his brother Lachlan as chief executive officer once the company’s TV and film assets are acquired by Walt Disney Co , Fox said on Wednesday. | |
S&P, Nasdaq climb on retail, chip gains(Reuters) – Wall Street edged higher on Wednesday, helped by gains in retail and chip stocks, while investors weighed the impact of rising bond yields. | |
Industrial production rises strongly; homebuilding tumblesWASHINGTON (Reuters) – U.S. industrial production increased solidly in April amid an acceleration in manufacturing and mining output, the latest indication that the economy was gathering momentum early in the second quarter. | |
Netflix’s next act: feeding the service with its own moviesLOS ANGELES (Reuters) – As Hollywood studios unleash their summer blockbusters into theaters, Netflix Inc is trying to give film buffs a reason to stay home. | |
Amazon cuts Whole Foods prices for Prime members in new grocery showdown(Reuters) – Amazon.com Inc and Whole Foods Market are making a surgical strike in the already brutal grocery price war. | |
Trump says China has ‘much to give’ in trade negotiations: TwitterWASHINGTON (Reuters) – U.S. President Donald Trump said on Wednesday that “nothing has happened” with China’s ZTE Corp and that Beijing has “much to give” Washington on trade. | |
Macy’s ‘every week was good’ boosts forecast for year(Reuters) – Macy’s Inc raised its full-year profit forecast on Wednesday and reported better-than-expected quarterly and same-store sales, helped by strong international tourism spending, a new loyalty program and a greater assortment of products offered in stores. | |
Goldman aims to preserve pre-IPO culture, even as partnership dwindlesWASHINGTON (Reuters) – Goldman Sachs Group Inc has launched a global training initiative to safeguard the tight-knit culture it developed as a private partnership, even as the bank marks its 19th year as a publicly traded company. | |
Canada government ready to cover some Kinder Morgan pipeline lossesOTTAWA (Reuters) – Canada is prepared to cover any losses Kinder Morgan Canada Ltd might suffer if a proposed oil pipeline expansion continues to be delayed by political opposition, Finance Minister Bill Morneau said on Wednesday. | |
“What Is The Magic Number?”: Wall Street Answers The Most Important Question For Investors TodayIn its latest Fund Manager Survey, Bank of America asked what may be the most important questions for investors today: “What level of US 10y Treasury yields would cause you to rotate from equities into bonds?” That level, which Bank of America’s Michael Hartnett has repeatedly dubbed the “magic number”, rose from 3.5% last month to 3.6% in the May survey, and represents that weighted mid-point of the responses by the 223 survey participants, who manage a total of $643BN . As a reminder, last week Hartnett explained why he agrees with the FMS response, saying “it should not be a surprise if reallocation starts before yields get to 3.5%. Indeed, as we breached 3% the following asset classes all suggested that the 3-3.5% range would become “painful” if not accompanied by much stronger economic data.” As the BofA CIO further added, banks, homebuilding stocks, US dollar, EM, yield curve all suggested 3% on the 10-year Treasury yield was the “magic number.” Lower US bank stocks: rise in rates was shifting from a “good” rise to a “bad” rise (financials … | |
Russell 2000 Surges To Record High As US Economic Data DumpsIt’s been a roller-coaster week for US Small Caps. After tumbling off opening highs on Monday they are roaring back to new record highs today… just as US economic data are the weakest and most disappointing in 7 months… | |
Whole Foods Offers Steep Discounts To Prime Members As Rising Energy Prices Squeeze RivalsIn their latest push to reinvigorate the growth of its lynchpin Amazon Prime service, Jeff Bezos & Co. are offering members even greater discounts at Amazon’s Whole Foods Stores. Whole Foods will now offer Prime customers another 10% discount on top of the price reductions that have already been announced since Amazon took control of the company. After a 20% price hike earlier this year, Amazon is facing more pressure to appease its prime membership as analysts worry about slowing growth. The company apparently believes Whole Foods will be an integral part of that strategy, even though its stores only represent a tiny fraction of American grocery stores. As we pointed out yesterday, with gas prices nearing $3 a gallon sopping up more of consumers’ cash, WFM is launching its latest strike against its rivals at a particularly vulnerable time. Here’s the Wall Street Journal:
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China Unleashes “Island Encirclement” War Drills Over TaiwanIt is an uncomfortable time for Taiwan. China’s People’s Liberation Army (PLA) began a dangerous “island encirclement” war drill around the country, which on Friday saw bombers and fighter jets simulating strikes on Taiwanese targets for the first time. It seems as Beijing will not wait for reunification; it wishes to intimidate the island into submission beforehand. China’s air force carried out an operation in its eastern and southern theaters, dispatching bombers and reconnaissance planes around Taiwan on Friday. It was the first time for Su-35 fighter jets to fly over the Bashi Channel in formation with H-6K bombers, a spokesperson said. (Source: People’s Daily, China) Defense experts told the South China Morning Post that China’s military would increase pressure on Taiwan, with more war drills designed to send a warning message to Taiwan President Tsai Ing-wen and her ruling Democratic Progressive Party (DPP).
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In Emerging Turmoil, What Links Argentina and Turkey?Who’s next? The fear of contagion is stalking emerging markets again, but Argentina and Turkey have put themselves in the firing line while others have distanced themselves from it. | |
Trump’s ZTE Deal Is No U.S. WinThe West’s main argument against Chinese trade practices has always been that it applies rules selectively and unfairly to achieve mercantilist aims. Now the U.S. is doing the same. | |
Can Super-Voting Stocks Survive the CBS Challenge?The lawsuit against National Amusements is a last-ditch effort to block a merger with Viacom, but it’s is also a challenge to the idea of dual-class stock structures. | |
April 2018 Industrial Production Improvement Trend Continues But ….Written by Steven Hansen The headlines say seasonally adjusted Industrial Production (IP) improved month-over-month. Our analysis agrees but there was significant downward revision to the data for the last six months. | |
In One Chart: Could this be ‘the single most important chart’ when it comes to managing money?Warren Buffett once said, “wide diversification is only required when investors do not understand what they are doing.” This chart shows how diversification can actually do more than just offer downside protection. | |
Capitol Report: Donald Trump Jr. told Senate panel he couldn’t remember discussing Russia probe with his fatherDonald Trump Jr. told the Senate Judiciary Committee last year he could not remember discussing the Russia investigation with his father, transcripts of his interview released Wednesday show. | |
Capitol Report: Here’s how much $3-per-gallon gas will offset the tax cutsIt’s a question on everyone’s minds, as gas price tip toward $3 a gallon nationally and campaigning for midterm elections heats up — will the rise in gas prices offset the benefit of the tax cuts? |
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